Vistance Networks shares fell 16.1% on Nov. 5, the day the company announced that CEO Chuck Treadway would leave in February, setting up a leadership change at its network-solutions business.
The shares closed at $5.41, compared with $6.44 in the previous session, according to S&P Global Market Intelligence data. Treadway is scheduled to leave his roles as president and CEO and his board seat on Feb. 1, 2027. He has led Vistance since October 2020.
Vistance said an outside executive-search firm will help its board identify a successor. Chairman Bud Watts linked the search to the company’s shift toward a more focused network-solutions business. He said the next leader could build on that base and grow Aurora Networks. Treadway said he would work with the board during the transition.
The company said Treadway oversaw a transformation that included divestitures, repayment of all outstanding debt and redemption of all outstanding preferred equity. Vistance said its 2026 special cash distributions to shareholders would total $16.50 per share, including the $1.50 payment due Nov. 6.
The board has not announced when it expects to name a successor. Treadway’s departure from the company and its board is scheduled for Feb. 1, 2027.
